Tag: Ghana Business News
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Ghana Stock Exchange signs agreement with Singapore Cooperation to transform its operations
The Ghana Stock Exchange (GSE), in its aspirations to transform into an efficient, world class platform for investments and raising capital, has signed and exchanged a Memorandum of Understanding with the Singapore Cooperation Enterprise (SCE). SCE, an agency of the Ministry of Trade and Industry and the Ministry of Foreign Affairs of Singapore, works closely…
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No end date yet for validation exercise for investors of defunct fund managers -SEC
The Securities and Exchange Commission, SEC, says it has not yet set a date to end the filing of validation for claims by customers of the defunct fund management companies since it wants to cater for as many investors as possible. The Commission says the move is necessary to assure customers and rebuild confidence in…
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COCOBOD signs $1.3bn syndicated loan for 2019/2020 crop season
COCOBOD has signed a 1.3 billion dollar syndicated loan to cater for the production of cocoa for the 2019/2020 crop season. The agreement was signed in Paris, France today Friday, September 13, 2019. Some of the banks that signed the agreement include Societe Generale, Nedbank, Ghana International Bank, Industrial and Commercial Bank of China, Bank…
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ENI announces new gas discovery in Ghana
ENI Ghana has announced that it has discovered more gas and condensate in Cape Three Points, offshore Ghana. According to the company, the well, drilled on the Akoma exploration prospect, proved an estimated volume of between 550 and 650 bcf of gas and 18-20 mmbbl of condensate. A statement from the company said the field…
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Ivory Coast destroys ‘dangerous’ rice rejected by Ghana
About 18,000 tonnes of rice declared unfit for consumption has been destroyed by authorities in West African Country, Ivory Coast. BBC reports that the said rice from Myanmar (also known as Burma) had been rejected by countries including Ghana. “The shipment of rice, from Myanmar (also known as Burma), had been refused entry at several West African…
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Listing Soyabeans on Commodity Exchange to boost earnings of farmers – GCX boss
The Chief Executive Officer of the Ghana Commodity Exchange (GCX), Dr. Kadri Alfa is confident the listing of soyabeans on the Exchange will help turn around the fortunes of soybean farmers across the country. The commencement of trading of soybean on the Ghana Commodity Exchange brings to three the number of commodities being traded on…
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VRA debt owed Ghana Gas hits $735 million
Management of the Ghana Gas Company has revealed that the Volta River Authority (VRA) owes the company 735 million dollars. The debt was incurred as a result of VRA’s inability to pay for gas supplied to power its thermal plants. The development according to Ghana Gas is affecting its financial status. Speaking at a press…
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Lack of bond guarantee hampering ECG takeover – IES
The Institute of Energy Security(IES) has stated that the delay in announcing the takeover of the Electricity Company of Ghana (ECG) by Power Distribution Services(PDS) is due to the latter’s refusal to provide a bond guarantee. The Millennium Development Authority (MiDA) announced in January that PDS was scheduled to take over ECG on February 1,…
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IES raises concern as PURC, ECG delay major policy decision making
The Institute of Energy Security, IES, is warning that the technical and operational challenges within the ECG may escalate if the process for the handing over to the Power Distribution Services (PDS) is delayed any further. The IES also wants the PURC to be swift in announcing the new tariffs as the delay is impacting…
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We’re not mandated to list on stock market –Vodafone
Vodafone Ghana says it is not mandated to list on the Ghana Stock Exchange following the acquisition of the 4G license. The company in a statement stressed that the bid documents for the license nor the license condition do not make reference to listing on the bourse hence its decision. The comments is in response…